Today we declare victory for Weterans and defeat for bots.
Shout out to all the Weterans for coming on this journey with us. Shout out to our partners at @JupiterExchange for working with us to implement some extremely wet anti-snipe features on their new DTF platform.
The WET public sale raised 2.07 million USDC. There were over 60,000 visitors on the DTF site at the time of the sale.
Let’s take a look at the defense mechanisms we put in place for the sale, as well as the sale statistics.
Regarding the details of the anti-snipe mechanisms for the public sale, here’s the whole scoop:
- Permissioned signing via the DTF frontend and cloudflare. These specific features only went live the very moment that the sale went live.
- Increased compute units per deposit, to limit the number of deposits per slot and spread out the sale over the course of about 90 seconds.
- A mechanism for disabling revert protection.
These mechanisms were extremely effective in deterring bots and getting WET in the hands of the Weterans. Our analysis of the sale shows a few things:
- 20% of public sale depositors chose to deposit less than the full $500, implying a normal non-bot user base.
- The distribution of priority fees matches that of the priority fee selection on the frontend (Medium, High, VeryHigh), and is very different from the priority fee distribution on the failed snipe attempt transactions.
- Very low % of depositor funds coming from similar sources (~5%)
Overall we’re thrilled with the launch outcome, and are looking forward to what’s next. We will be using a portion of the proceeds to bolster our inventory to make Solana the best place to trade with size.
We’re going to continue bringing the same technical excellence and innovation to Solana, the same cracked firepower that got us to >50% of all propAMM volume and to more than $1 Billion in volume per day.
Stay tuned for more.
When the #1 dex goes out of their way to *avoid* being bundled by a system, it means that system is adversarial to apps.
Today, @humidifi beat them by implementing ACE at the app level.
Congrats to all of the users and keep saying no to taxes!
Congratulations to HumidiFi for a very WET public phase sale!
Despite the unexpected delay on the public sale, there were over 60,000 people that were moist and very DTF, constantly refreshing on the sales site and aping in the moment the deployment went live.
More importantly, we are very happy to share that based on initial data sampling, it appears that the vast majority of participants were real users and not clankers.
Each of the 4000+ users that managed to purchase $WET had to go through the DTF application’s front-end. Based on initial wallet-age analysis, we are very confident that legitimate users at their battle stations (with rapid refresh and fast fingers) won today and only about 5% were from potentially suspicious addresses (thanks @bubblemaps for helping us identify these).
It was also massively great to see the WET-MET collaboration between the chads at @temporal_xyz and @MeteoraAG to innovate on developing the multi-layered tech solution which ensured that it was impossible for bots to bundle and snipe the sale.
At this point, we would also like to apologize for the confusion. There was a delay in the deployment (to implement part of the anti-bot package) that caused the sale to go live at 10:40 ET, instead of the earlier stated timing. It appears that the heavy traffic slowed down the deployment.
While we are glad that anti bot measures were successful, we are again apologetic for the deployment issues that caused so many of you frustrations and confusion.
We have learned a massive amount over the last few days, from bot protection to staker / whitelist allocations, and will work on ensuring that future DTFs are smoother and better distributed.
We will be relentless in building the best possible launch platform for the very best projects in the space.
Congrats again to HumidFi for a very oversubscribed pre-sale and we are excited to see what HumidiFi, the largest prop AMM, have in store for the ecosystem in the years to come!
Public $WET Sale Relaunch is live in 30mins 🚨
Pro tip: use the auto-confirm function on Jupiter Wallet Extension for best chance of getting into the sale! 💦